Credit & Collections

Challenged with prioritizing accounts receivable collections? Chasing invoices, sending payment reminder emails and phone calls, manually matching payments and invoices are all tasks that take up time from what really matters – getting paid faster and making customers happy.

To get paid faster, reduce DSO and improve the customer experience, you need a collections team that is armed with the right tools to be efficient and proactive. With VersaPay ARC’s accounts receivable solution, you can enable touchless collections to automate the credit and collections process. ARC will give you the collections tools your team needs at their fingertips in a cloud-based platform that is easy, secure, and cost-effective to deploy and maintain.

Improve efficiency with a complete collector tool-kit

Accounts receivable collections team.

VersaPay ARC’s, accounts receivable solution, automates and enhances the credit and collections management process to improve collector efficiency with a complete toolkit needed for all collections activities.

With the right tools at your fingertips, your team can better prioritize all credit and collections activities. A full history of customer information and payment behavior (invoices, PODs, dispute information, payment history, claims, tracking info) is automatically presented in an easy-to-use collections interface, providing a single-view in one spot. Analytics are available on a per customer basis to support collections prioritization.

With the ability to create reminders and tasks for follow-up, your collections team can create personal work-lists within the platform to better organize their day. For those accounts that are high risk, your collections team can reduce exposure to bad debt with the ability to place a hold on customers with outstanding payments and credit issues and controlling the use of credits.

Touchless collections with automation

Improve communications with your customers for effective collections with automatic reminders, eDunning notifications (coming due, overdue, NSF), and online collaboration to send personalized messages to both your customers and team to get the information you need for effective collections. To, your team can reduce risk by putting a hold on customers with outstanding.

Boost productivity with effective insight, prioritization, and communications

Accounts receivable collections human touch.

Analytics are available on a per customer basis to support collections prioritization. With the ability to create reminders and tasks for follow-up, your collections team can create personal work-lists within the platform to better organize their day.

For those accounts that are high risk, your collections team can reduce exposure to bad debt with the ability to place a hold on customers with outstanding payments and credit issues and controlling the use of credits. Improve communications with your customers for effective collections with automatic reminders, eDunning notifications (coming due, overdue, NSF), and online collaboration to send personalized messages to both your customers and team to get the information you need for effective collections. For those customers with large balances outstanding, VersaPay ARC allows you to put holds on their accounts, to reduce risk.

Refocus collections efforts on accounts that need the human touch

Happy businesswoman working on laptop with headphones in office.

By automating and improving the efficiency of prioritizing collections tasks, your team will have more time to follow-up personally with those accounts that need the human touch. With analytics on a per customer basis, your collections team will be armed with the information they need to have the right conversations with your customers, improving the customer experience.

Your collections team is able to make payments on behalf of customers, schedule payments and set-up payment plans for customers, to make collections easier with full tracking on all payments and customer history.

With the right tools for the job, your credit and collections process and team will make a significant difference in your organization with happier customers, lowered DSO and bad debt, and more cash in the bank.

Ready to take charge of your collections? 

What's next?

Looking for more insights, tips, and general information on accounts receivable automation? Check out the links below.

See How VersaPay Can Work For You

Do you like the sound of getting get paid faster and improving customer satisfaction? If so, you’re ready for accounts receivable automation.

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